NEFT (National Electronic Funds Transfer)
Convenient and secure fund transfers to any bank across India with Harco Bank's NEFT service.
What is NEFT?
National Electronic Funds Transfer (NEFT) is an electronic system that facilitates one-to-one funds transfer. It is a nation-wide system that allows individuals, firms, and corporates to electronically transfer funds from any bank branch to any individual, firm, or corporate having an account with any other bank branch in the country participating in the Scheme.
Unlike RTGS which is real-time, NEFT operates on a Deferred Net Settlement (DNS) basis, where transactions are processed in batches. This makes it suitable for all value transactions, including small amounts, with no minimum limit. Harco Bank offers 24x7 NEFT services for your convenience.
Benefits of NEFT
Easy Funds Transfer
Effortlessly send money to any NEFT-enabled bank account in India.
Nationwide Reach
Transfer funds to over 100,000 bank branches across India, covering most banks.
No Minimum Limit
NEFT can be used for any amount, from small transfers to large sums, without a minimum cap.
24x7 Availability
Initiate NEFT transactions any time, any day, even on holidays.
Secure Transactions
All NEFT transactions are processed securely through the RBI's robust framework.
SMS/Email Confirmation
Get instant confirmation of your transaction via SMS or email.
Eligibility & Requirements
Who can use NEFT?
- Individuals, firms, and corporates with an account at Harco Bank.
- Customers of banks that are part of the NEFT network.
- Even walk-in customers can deposit cash for NEFT transfers (up to ₹50,000).
Information Required for NEFT
- Beneficiary Account Number: The account number of the person/entity you are sending money to.
- Beneficiary Name: Full name of the beneficiary.
- Beneficiary Bank Name: The name of the bank where the beneficiary holds an account.
- Beneficiary IFSC Code: The 11-character Indian Financial System Code of the beneficiary's bank branch.
- Amount to be remitted: The precise amount you wish to transfer.
Transaction Limits & Timings
Transaction Limits
- Minimum Amount: No minimum amount for NEFT transactions.
- Maximum Amount: No maximum limit prescribed by RBI for NEFT. However, individual banks may set limits for online transfers (e.g., Harco Bank's Internet Banking limit may apply).
- Cash Deposits: Walk-in customers can deposit cash up to ₹50,000/- for NEFT transfer.
Operating Hours & Processing
- 24x7 Availability: NEFT services are available round the clock, throughout the year, including holidays.
- Batch Processing: Transactions are processed in batches every 30 minutes. If your transaction is initiated after a batch is settled, it will be included in the next available batch.
NEFT Charges
Applicable charges for NEFT transactions through Harco Bank.
| Transaction Amount | Online (Internet Banking/Mobile Banking) | Branch Visit |
|---|---|---|
| Upto ₹10,000 | Free | ₹2.75 (inclusive of GST) |
| ₹10,001 to ₹1,00,000 | Free | ₹5.25 (inclusive of GST) |
| ₹1,00,001 to ₹2,00,000 | Free | ₹15.75 (inclusive of GST) |
| Above ₹2,00,000 | Free | ₹27.50 (inclusive of GST) |
How to use NEFT?
Follow these simple steps to initiate an NEFT transaction.
For Internet Banking / Mobile Banking Users
Log in to your Harco Bank Internet Banking portal or Mobile Banking App. Navigate to 'Fund Transfer' and select 'NEFT'.
Add Beneficiary
If not already added, add the beneficiary by providing their name, account number, bank name, and IFSC code. This usually requires a cooling period for activation.
Initiate Transfer
Select the registered beneficiary, enter the amount, and confirm the details. Authorize the transaction using your PIN/OTP.
For Branch Visit
Fill out the NEFT application form available at any Harco Bank branch. Provide all required beneficiary details and the amount. Submit the form along with cash/cheque if applicable.
Frequently Asked Questions
Transfer funds conveniently and securely!
Initiate your NEFT transaction through Harco Bank's secure online platforms or visit your nearest branch today.
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